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The annual inflation rate in the EU and eurozone hit new record levels in June, driven by continued strong growth in energy and food prices, a Eurostat report showed on Tuesday.
The annual inflation rate in the EU, as measured by the harmonized index of consumer prices (HICP), reached a record 9.6 percent in June, increasing by 0.8 percentage points compared to the previous month, according to data from the European Union. Statistics.
In the eurozone, it increased by half a percentage point, to 8.6 percent, reaching a new higher level since the data collection. In June last year, consumer prices at the EU level increased by 2.2 percent on an annual basis and by 1.9 percent in the Eurozone.
The record inflation rate largely reflects a further rise in energy prices, with 42 percent in the area of application of the common European currency. Food prices also increased again by 11.2 percent compared to June last year.
Annual inflation accelerated in 25 EU member states, including Croatia, and slowed only in Germany and the Netherlands, the report showed.
In June, the number of EU countries with double-digit annual rates doubled, so that 25 countries recorded price increases of 10 percent or more, and Croatia joined them.
The highest rates of consumer price growth were again recorded by the Baltic countries – Estonia at 22 percent, Lithuania at 20.5 percent and Latvia at 19.2 percent.
In Germany, prices rose 8.2 percent in June compared to the same month a year ago, showing slower growth than in May, when they rose 8.7 percent. Italy, the Eurozone’s third-largest economy, had consumer price growth of 8.5 percent, close to the Eurozone average.
Ireland, on the other hand, with an annual inflation rate of 9.6 percent, is equal to the EU average.
In Croatia, annual consumer price inflation hit a record high of 12.1 percent in June. In May it was 10.7 percent, while in June last year it was 2.2 percent.
Closer to Croatia in June of this year were Greece, with annual inflation of 11.6 percent, and Hungary and Slovakia, with 12.6 percent higher consumer prices compared to the same month a year ago.
Slovenia has an annual inflation rate of 10.8 percent in June. Malta recorded the softest increase in consumer prices last month, at 6.1 percent. It is followed by France with 6.5 percent and Finland, where consumer prices were higher with 8.1 percent than in June last year.
On an annual basis, consumer price growth slowed in June, with the exception of Germany, only in the Netherlands, from 10.2 percent in May to 9.9 percent, according to Eurostat.
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